A project has an initial cost of $26,000, a discount rate of 11.7 percent, a life of 5 years, and an NPV of $11,216. Given this, you know that the project is expected to earn a return:
a) Equal to 11.7 percent of $26,000 plus an additional $11,216.
b) Of $26,000 minus $11,216.
c) Of $11,216 in total.
d) Equal to 11.7 percent of $37,216 (= $26,000 + 11,216).
e) Of 11.7 percent of $11,216.
